Mako Mining Intersects 85.10 g/t Au and 153.0 g/t Ag over 0.8 m (Estimated True Width) at Las Conchitas Central Connecting Mina Bonanza and Cruz Grande and Expanding the Known Strike Length to Over 295m in this Zone
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August 18th, 2022
TSX-V: MKO; OTCQX: MAKOF
Mako Mining Intersects 85.10 g/t Au and 153.0 g/t Ag over 0.8 m (Estimated True Width) at
Las Conchitas Central Connecting Mina Bonanza and Cruz Grande and Expanding the
Known Strike Length to Over 295m in this Zone
Mako Mining Corp. (TSX-V: MKO; OTCQX: MAKOF) (“Mako” or the “Company”) is please d to report
additional results from its recent definition and expansion drilling program at the Las Conchitas area on its
wholly-owned San Albino-Murra property. The Las Conchitas area is located immediately south of the San
Albino Mine which is currently in commercial production , and north of the historical El Golfo Mine located
within the Company’s El Jicaro Concession.
Las Conchitas contains numerous mineralized structures over a 1 ,700m by 800m area, which has been
subdivided into three primary areas: Las Conchitas north (“LC-N orth”), Las Conchitas central (“LC-
Central”) and Las Conchitas south (“LC-South”).
Highlights of the recent drilling at Las Conchitas – Central
85.10 g/t Au and 153.0 g/t Ag over 1.30m (0.8 m ETW)
16.40 g/t Au and 13.1 g/t Ag over 1.00m (0.9 ETW)
12.80 g/t Au and 8.2 g/t Ag over 1.10m (ETW) – additional zone
Note * ETW is estimated true width measured from interpreted sections
Akiba Leisman, CEO of Mako states, “Las Conchitas Central has t hus far received the least amount of
drilling since inception, but in this area, we are still findin g similar high grade, shallow dipping, auriferous
veins as we have throughout our 188 km 2 land package. The importance of LC22-813 is that not only did
it intersect 85.1 g/t Au over minable widths, but it was able to connect two zones previously interpreted as
separate. Now we have nearly 300m of strike delineated at Mina Bonanza – Cruz Grande, and open along
strike and down dip. Additionally, LC22-818 has confirmed an un usually thick part of this zone 68 meters
from surface. Results from this hole will be received over the course of the next few weeks.”
The Las Conchitas area covers approximately 3.75 km 2 which hosts multiple subparallel, shallow,
northeast-southwest striking and gently dipping mineralized veins, with stylolitic and/or brecciated textures
which often contain visible gold. The Company is planning to co ntinue drilling the area with five of the
seven diamond drill rigs on site with the objective of further expansion of the mineralized structures in all
three areas in preparation for a maiden resource by Q1 2023.
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To date, the drilling program at Las Conchitas has focused on t wo high priority targets, Las Conchitas
North and South; however, no systematic exploration had been co nducted in the Central part of Las
Conchitas area until recently. During the 2018 drilling campaig n at the LC-Central area, 19 drill holes,
totaling 824.5m were completed and confirmed two high grade gold bearing structures, Mina Bonanza and
Cruz Grande, which were interpreted to be separate structures, located on opposite sides of a ridge. Until
recently there had been no drill testing of the gap between the zones.
In May 2022, Mako initiated a drilling program to systematically test this gap. The Company has completed
18 drill holes totaling 2,227.5m confirming that these two zone s have continuity within the previously
interpreted gap. Drill hole LC22-813 intersected 85.10 g/t Au and 153.0 g/t Ag over 1.30m (0.8m ETW), at
a vertical depth of 51.0m, connecting two zones that were previ ously separate and confirming continuity
along strike over 295.0m (see attached longitudinal section). A n additional hole, LC22-804 targeting the
same gap, intersected 19.40 g/t Au and 64.2 g/t Ag over 0.90m (0.8m ETW) (see press release dated July
28, 2022 and table below).
Drill hole LC22-803 intersected 16.40 g/t Au and 13.1 g/t Ag ov er 1.00m (0.9m ETW), starting at vertical
depth of 71.9m, confirming a 55.0m down dip extension of the hi gh-grade mineralization previously
intersected in hole CG18-25 which graded 11.31 g/t Au and 12.2 g/t Ag over 4.15m (see press release
dated December 05, 2018). The same drill hole intersected three additional mineralized intervals (see table
below), currently interpreted as quartz vein splays, including 13.00 g/t Au and 6.9 g/t Ag over 0.60m (0.5m
ETW) indicating further untested potential within the area.
In addition, the Company has received results from drill hole LC22-804, which intersected 12.80 g/t Au and
8.2 g/t Ag over 1.10m (ETW) at a vertical depth of 6.3m from su rface. This mineralized structure, which
lies above the Cruz Grande zone (see attached drill plan and lo ngitudinal section), was originally
discovered in 2017, during sampling of surface exposures at the Cruz Grande area where a vertical sample
in trench SAM17-TR17 returned 13.20 g/t Au and 8.5 g/t Ag over 1.20m. This drill hole confirmed a 21.0m
down dip extension of a high grade, near surface mineralization warranting additional drilling to better
define the continuity of the zone.
Drill hole LC22-818 (results pending), intersected a 7.5m wide mineralized interval, starting at a vertical
depth of 68.0m. The interval contains two mineralized quartz ve ins with similar minerology as in a hole
CG18-24, including the presence of visible gold, collared 82m u p-dip (see attached drill plan), which
intersected an interval of 23.63 g/t Au and 25.1 g/t Ag over 5. 65m (see press release dated December 8,
2018). Results for LC22-818 are expected in early September.
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Table: Assay Results Reported in this Press Release
Note: The mineralized intervals shown above utilize a 1.0 g/t gold cut-off grade with not more than 1.0m of internal dilution.
*Widths are reported as drill core lengths. **Estimated True Width is estimated from interpreted sections.
Sampling, Assaying, QA/QC and Data Verification
Drill core was continuously sampled from inception to terminati on of the entire drill hole. Sample intervals
were typically one meter with a minimum sample width of 50 cm. Drill core diameter was HQ (6.35
centimeters). Geologic and geotechnical data was captured into a digital database, core was
photographed, then one-half split of the core was collected for analysis and one-half was retained in the
core library.
Samples were kept in a secured logging and storage facility until such time that they were delivered to the
Managua facilities of Bureau Veritas and pulps were sent to the Bureau Veritas laboratory in Vancouver
for analysis. Gold was analyzed by standard fire assay fusion, 30-gram aliquot, AAS finish. Samples
returning over 10.0 g/t gold are analyzed utilizing standard Fire Assay-Gravimetric method. The Company
follows industry standards in its QA&QC procedures. Control samples consisting of duplicates, standards,
and blanks were inserted into the sample stream at a ratio of 1 control sample per every 10 samples.
Analytical results of control samples confirmed reliability of the assay data. No top cut has been applied
to the reported assay results.
Qualified Person
John M. Kowalchuk, P.Geo, a geologist and qualified person (as defined under NI 43-101) has read and
approved the technical information contained in this press rele ase. Mr. Kowalchuk is a senior geologist
and a consultant to the Company.
On behalf of the Board,
Akiba Leisman
Drill Hole From
(m)
To
(m)
*Width
(m) Au g/t Ag g/t Interval **ETW
(m)
35.1 35.7 0.6 1.2 5.3 1.23 g/t of Au and 5.3 g/t of Ag ov er 0.60 m 0. 5
68.9 69.7 0.8 1.6 17.3
69.7 70.5 0.9 1.4 7.4
71.9 72.9 1.0 16.4 13.1 16.40 g/t of Au and 13.1 g/t of Ag ov er 1.00 m 0.9
92.1 92.7 0.6 13.0 6.9 13.00 g/t of Au and 6.9 g/t of Ag ov er 0.60 m 0.5
8.0 9.1 1.1 12.8 8.2 12.80 g/t of Au and 8.2 g/t of Ag ov er 1.10 m 1. 1
75.1 76.0 0.9 19.4 64.2 19.40 g/t of Au and 64.2 g/t of Ag ov er 0.90 m
(previously released) 0.8
LC22-805 to
LC22-812 Pending
LC22-813 56.2 57.5 1.3 85.1 153.0 85.10 g/t of Au and 153.0 g/t of Ag ov er 1. 30 m 0.8
LC22-814 to
LC22-819 Pending
LC22-803 1.48 g/t of Au and 12.0 g/t of Ag ov er 1.60 m 1.4
LC22-804
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Chief Executive Officer
About Mako
Mako Mining Corp. is a publicly listed gold mining, development and exploration company. The Company
operates the high-grade San Albino gold mine in Nueva Segovia, Nicaragua, which ranks as one of the
highest-grade open pit gold mines globally. Mako’s primary obje ctive is to operate San Albino profitably
and fund exploration of prospective targets on its district-scale land package.
For further information: Mako Mining Corp., Akiba Leisman, Chief Executive Officer, Telephone: 203-862-
7059, E-mail: [email protected] or visit our website at www.makominingcorp.com and
SEDAR www.sedar.com.
Forward-Looking Information
Statements contained herein that are not historical fact are considered “forward-looking information” within
the meaning of applicable securities laws. Forward-looking information is based on management’s current
expectations, beliefs and assumptions, and includes, without limitation: the objectives of the drilling
campaign; the results from hole LC22-818 will be received over the course of the next few weeks; the plan
to continue drilling the Las Conchitas area with five of the seven diamond drill rigs on site with the objective
of further expansion of the mineralized structures in all three areas in preparation for a maiden resource
by Q1 2023; results for LC22-818 are expected in early September ; the expectation of additional
discoveries; and that the Company meets its object of operat ing San Albino profitably while continuing to
fund exploration of prospective targets. Such forward-looking information is subject to a variety of risks and
uncertainties which could cause actual events or result s to differ materially from those reflected in the
forward-looking information, including, without limitation, the risks that additional satisfactory exploration
results will not be obtained the risk that the Company will not release additional exploration results on the
timeline expected; the risk that additional discoveries will not continue; that exploration results will not
translate into the discovery of an economically viabl e deposit; risks and uncertainties relating to political
risks involving the Company’s exploration and developm ent of mineral properties interests; the inherent
uncertainty of cost estimates and the potential for unexpected costs and expense; commodity price
fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and
uncertainties disclosed in the Company’s public fi lings at www.sedar.com. Forward-looking information
contained herein is based on management’s best judgment as of the date hereof, based on information
currently available and is included for the purposes of providing investors with the Company’s plans and
expectations at the Las Conchitas area, and may not be appropriate for other purposes.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Figure 1 – Drill Hole Plan
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Figure 2 – Longitudinal Section
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Figure 3 – Cross Section